You have to find the 'owners' first who are hiden behind share-bearers and Trusts but if that is what Free means then I agree with him. We are saying that the Banks should not be allowed to control our money supply and to return to a function of safe keeping and performing a banking role that the free people could decide upon.

The BoE would then be responsible for the printing of our money but not the 'supply'.

I think we all know who the owners are and they are the same as the owners of all the worlds Central Banks and the Federal Reserve. A quick goolge will point you in the right direction.

With 99% of the population believing in the system, its not going to be easy to get rid of the BOE. If enough people wake up, a boycott of 'their' money would be a start, but this would obviously create problems in the interim. The easy route would be Gordon Brown deciding to print debt free money, but we all know what happened to several former US presidents...

"Reason is the life of the law; nay, the common law itself is nothing else but reason. The law which is perfection of reason" Sir Edward Coke 1552-1634.

I can't believe what I'm reading. I always assumed that when I took out a loan I was actually borrowing money from Barclays plc - that they were doing me a big favor. So I couldn't understand why banks were so rich, if all they got back was a little interest on the loan. In fact we are giving them permission to create money for themselves, then demand OUR money back PLUS interest?

sojmed wrote:I can't believe what I'm reading. I always assumed that when I took out a loan I was actually borrowing money from Barclays plc - that they were doing me a big favor. So I couldn't understand why banks were so rich, if all they got back was a little interest on the loan. In fact we are giving them permission to create money for themselves, then demand OUR money back PLUS interest?

I can't believe what I'm reading!

max

Hi Max - it's so obvious once you know but most of us live in ignorance. Welcome to the world of fractional reserve banking..... there's quite a good history about this relating to how the goldsmiths used to store people's gold because they had strongrooms - one day they realised that there was only a very low possibility that all people would want all their gold back at once so hey presto they could lend out more than they had. I think of it as alchemy......

We're actually creating 'credit' when we sign the 'application' (to apply is to beg). We think we're borrowing 'money' and are thankful to the bank for this. We must remember that banks never do anything for us, only for themselves. Banks are in business to make profit. We create the 'credit' and pay them back 'money'. However what we get is a piece of paper with some numbers on it called a 'loan account'. There is no 'money'. We're not borrowing anything at all. Have a look on your 'credit agreement' and see if you can see anything which actually tells you what they gave you..or how the credit was created....

Free

Ironic, that those who would consider us mad choose to live in the madness of an illusion

Its a clever scam eh? and so simple, it is just the amount of people that actually are aware of said system they operate, i remember my face light up when barclays 'gave' me a grand and it went staraight into my account. After doing some limited research you begin to realsise how much profit they make per customer per loan its incredible!